Talent Management Program

Talent Management Program

A talent management program (TMP) is an HR activity design bed to enhance employee’s value and aligned to organizational strategy.  The program entails support functions developed to improve the skills of workers while training new capabilities necessary in accomplishing the goals and objectives of a firm. The competitive nature of the modern market place necessitates employers to intervene and ensure that their Human resources remain competitive. Employees have emerged as an avenue of competitive advantages in organizations because their decisions and behaviors determine the effectiveness of operations. Therefore, a talent management program in an integrated approach to skill enhancement required to ensure that the firm adopts changes in skill requirements and increasing productivity. This paper aims to examine and explain some relevant components of a talent management program.

The first component of a TMP entails the training and development of employees. Training is a set of activities that are established with the purpose of cultivating the skills of the employees to enable them to perform their responsibilities effectively. Tra8ining may be managed through internal structures or outsourced from external parties. It includes helping the worker to acquire relevant skills like effectiveness communication, conflict management, and handling job stress. Besides, employee’s development focuses on improving skills to enhance employee’s competitiveness in the market. The development program includes seminars, job enlargement projects, group training, and conferences.

The second critical component of TMPs involves workforce development. These are plans initiated by an organization to align HR plans with the business strategies. Numerous activities are incorporated into workforce development plans to ensure that human capital competencies assist employees in meeting organizational needs. The dual-career leader aspect helps in providing workers with a clear path for progress and higher achievement. It is an essential intervention process that helps to cultivate a quality workforce. Then, workforce development entails succession planning in line with a specific job type. Under this pillar, an organization identifies vital executive positions and critical competencies required to succeed in such a job (Day, 2016). Workforce development focuses on value by prioritizing education and training programs to nurture qualified individuals for emerging career opportunities.

Talent acquisition and retention activities represent the third component of talent management. Organizations require employees with specific skills and competencies to fill certain positions. Bring new individuals into the firm is an essential aspect of strategic HR with the ultimate goal of nurturing and cultivating competency. An organization identifies the needs and initiate an in-house plan to develop internally. Identifying employees with the necessary skills is costly, which prompts organizations to establish procedures for retaining high performing employees.

Moreover, talent management incorporates performance management and compensation programs. Underperformance management, a firm establishes policies that aim at aligning the appropriate person to organizational functions. Workplace suitability ensures that the role assigned to an employee helps in achieving business goals. Also, compensation programs facilitate performance management because it provides the incentives and means of recognizing the contributions of employees. Workers should be rewarded for their success by appreciating their value to the achievement of strategic objectives (Wellins, Smith & Erker, n.d.). This plays a critical role in retaining employees, enhancing performance, and motivation in the organization.

The discussion reveals numerous components of a talent management program, including training and development, performance management, compensation, carrier development plans, succession planning, and talent acquisition. Besides, the analysis demonstrated that a TMP is an essential factor for the success of an organization because it aligns HR activities with the business strategy. For those reasons, an organization should establish a robust TMP to enhance productivity and success.